Gold - Head and Shoulder formation on hourly

FX:XAUUSD   Gold Spot / U.S. Dollar
Resistance - $1288, $1300, $1310

Support - $1276, $1270, $1263

  • Sharp rally in Cable in Asia on account of drop in Brexit bets also weighed over gold . Consequently, prices dipped to $1280 levels, thus increasing the odds of a head and shoulder formation on the hourly chart with neckline support at $1276 (also hourly 200-MA).
  • Hourly closing below the same would open doors for a drop to $1263-$1253 levels.
  • On the higher side, breach of $1300 would signal failure of head and shoulder formation and shift risk in favor of a rise to $1320-1325 levels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out